N-able (NYSE:NABL) Trading Down 6% – What’s Next?

N-able, Inc. (NYSE:NABL)’s stock price dropped 6% on Thursday . The company traded as low as $11.90 and last traded at $11.96. Approximately 147,471 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 523,517 shares. The stock had previously closed at $12.72.

Analyst Ratings Changes

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $16.50 price objective on shares of N-able in a research report on Friday, August 9th.

N-able Stock Performance

The company has a quick ratio of 2.97, a current ratio of 2.97 and a debt-to-equity ratio of 0.46. The stock has a market cap of $2.22 billion, a P/E ratio of 74.76 and a beta of 0.47. The stock has a fifty day simple moving average of $12.62 and a 200-day simple moving average of $13.21.

N-able (NYSE:NABL) last issued its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. N-able had a return on equity of 5.67% and a net margin of 7.19%. The firm had revenue of $119.40 million for the quarter, compared to analysts’ expectations of $116.83 million. During the same quarter last year, the business earned $0.03 earnings per share. The company’s revenue was up 12.5% compared to the same quarter last year. Equities analysts expect that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Peter C. Anastos sold 16,000 shares of N-able stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $13.04, for a total transaction of $208,640.00. Following the transaction, the executive vice president now owns 322,774 shares in the company, valued at $4,208,972.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Peter C. Anastos sold 16,000 shares of N-able stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $13.04, for a total transaction of $208,640.00. Following the transaction, the executive vice president now owns 322,774 shares in the company, valued at $4,208,972.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Tim James O’brien sold 11,195 shares of N-able stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $12.84, for a total value of $143,743.80. Following the transaction, the chief financial officer now owns 654,232 shares in the company, valued at $8,400,338.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 199,351 shares of company stock worth $2,551,240 in the last 90 days. Corporate insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Quest Partners LLC lifted its position in shares of N-able by 91.4% during the 3rd quarter. Quest Partners LLC now owns 67,217 shares of the company’s stock valued at $878,000 after acquiring an additional 32,094 shares during the period. MQS Management LLC bought a new stake in shares of N-able during the 3rd quarter valued at $330,000. Victory Capital Management Inc. lifted its position in shares of N-able by 14.4% during the 3rd quarter. Victory Capital Management Inc. now owns 55,497 shares of the company’s stock valued at $725,000 after acquiring an additional 7,000 shares during the period. Aigen Investment Management LP lifted its position in shares of N-able by 38.4% during the 3rd quarter. Aigen Investment Management LP now owns 13,915 shares of the company’s stock valued at $182,000 after acquiring an additional 3,863 shares during the period. Finally, Entropy Technologies LP bought a new stake in shares of N-able during the 3rd quarter valued at $149,000. 96.35% of the stock is owned by institutional investors and hedge funds.

About N-able

N-able, Inc provides cloud-based software solutions for managed service providers in the United States, the United Kingdom, and internationally. The company's solutions enable MSPs to support digital transformation and growth within small and medium-sized enterprises. It provides software platform designed to be an integrated, enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.